site.btaBusiness Services Production Index Rises in September 2024

In September 2024, the total production index for business services increased by 0.2% compared to the previous month, according to preliminary seasonally adjusted data from the National Statistical Institute (NSI).

Year-on-year, the calendar-adjusted index rose by 7%. For comparison, August 2024 saw a month-on-month increase of 1.5% and the same annual growth of 7%, as reported by the NSI.

In September, several sectors experienced monthly growth. Real estate activities saw the largest increase, rising by 5.3%. Information and communication followed with a 2.3% rise, while administrative and support services grew by 0.8%, and transportation and storage by 0.3%. However, declines were recorded in professional, scientific, and technical activities, which dropped by 4.6%, and in accommodation and food services, which fell by 0.9%.

On an annual basis, significant growth was observed in several sectors. Information and communication reported a 14.2% increase, while professional, scientific, and technical activities grew by 10.1%. Real estate activities rose by 7.3%, accommodation and food services by 3.5%, and transportation and storage by 2.9%. The only sector to experience a decline over the year was administrative and support services, which saw a 0.5% decrease.